Capstone Gets Green Light for Coachella Project

The City of Coachella has given approval to a new 20-acre mixed-use development that will consist of a 56k sf retail project called Van Buren Plaza and a residential component known as Durango. The project, a development of Capstone Advisors, is located at the northwest corner of Avenue 50 and Van Buren St.

Van Buren Plaza will be anchored by CVS/Pharmacy along with a Fresh & Easy Neighborhood Market, a local grocery concept by Tesco that is new to the United States. The 167-unit Durango community will use an innovative courtyard style layout to create a village-like atmosphere for its residents. The shopping center and residential community will be connected via a pedestrian link to enhance the appeal of both projects.

Van Buren Plaza Shopping Center, designed by Perkowitz + Ruth Architects of Long Beach, California, will incorporate a distinguished Santa Fe architectural style with natural materials, colors, and treatments, environmentally sensitive landscaping and outdoor public areas to provide merchants and local residents with a pleasurable shopping experience. Construction of the center is scheduled to start in early 2008 with completion and a grand opening slated for fall 2008.

The Durango residential community, designed by San Diego-based The McKinley Associates, will be a “first of its kind” residential concept in Coachella. Clusters of single family homes with backyards on privately owned lots will be creatively designed around a courtyard to create an intimate feel with a sense of identity and community. Site design and architecture will work together to provide a village-like appeal. The community will feature two ‘signature’ main entrances with private gates serving a centralized tree-lined vehicular and pedestrian circulation system that will surround a recreation area comprised of a pool, spa, showers, barbeque, trellis covered patio, and park areas.

This is not the first project in the area for Capstone, which, in 2004 began development of Jackson Square, a 130.8k sf retail center located at the corner of Avenue 48 and Jackson St. The 92.6k sf first phase of Jackson Square is complete and fully leased to national retailers including Albertson’s, Starbucks, McDonald’s and Bank of America. Capstone is scheduled to break ground on the 38k sf second phase in mid-2008, with completion expected later in the year.

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source: rentv.com